June, 2018

Using a big data approach to overcoming banking regulatory requirements

Insights on Business

IBM RegTech Innovations. Asset liability management (ALM) and liquidity risk (LR) are top of mind for banks as the pressure from today’s regulatory environment heats up.

Big Or Small, Pharmacy Success Often Equates To Offering Convenience

PYMNTS

In the pharmacy business, convenience is often seen as the key to success. Industry giants like CVS Health, Walgreens and Express Scripts, Inc. have become household names, enabling more than 50 percent of prescription drug sales in the U.S.

Online 219

The difference between FinTech and TechFin

Chris Skinner

There’s lots of friction around these days. Banks that get digital and banks that don’t; fintechs that want to change everything and fintechs that don’t; digital currencies to replace fiat currencies and fiat currencies that are going digital; destruction, disruption and disappointment; and more. It just shows the world of … The post The difference between FinTech and TechFin appeared first on Chris Skinner's blog. Digital Bank Fintech Grid

Gen Z through the mobile payments lens

Mobile Payments Today

Gen Z is on the scene and ready to leave their own mark on banking and payments. This latest generation, born after 1999, view the world completely differently than those who have gone before

Mobile 163

Where is PayU Headed? Follow the Money

Bank Innovation

Emerging markets payments platform PayU is building an in-house data science team. The company’s latest rounds of investment and acquisitions pointed to something big, and this seems to be part of it.

TRENDING: AI Tech That Doesn’t Break The Banking Experience

PYMNTS

Digital banking offerings might not be new in countries like the U.S. and U.K., but it’s still an emerging offering in some.

Trends 217

How Open Banking will blow core systems out of the water

Insights on Business

Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN.

System 204

More Trending

The Amazonisation of Banking

Chris Skinner

Last week, our good friend Dave Birch posted a great blog about the Amazonisation of Banking, most of which I agreed with. So I asked Dave if I could repost it here and he said “yes, of course” Thanks Dave. Enjoy! The Amazonisation of Banking… …is very different from Amazon being … The post The Amazonisation of Banking appeared first on Chris Skinner's blog. Case Studies Digital Bank Grid Technology

How can real-time payments be secured?

Mobile Payments Today

With account-based fraud on the rise, the move from standard to real-time transactions is causing significant security challenges for central banks and clearing houses

Mastercard API for Conversational Commerce Still in the Works

Bank Innovation

PREMIUM -- This past spring, Mastercard debuted a voice-assisted ordering and payment service at Pizza Hut in Singapore with the help of Softbank’s robotics division.

Tapping Digital Escrow To Build Big-Ticket eCommerce Trust

PYMNTS

Big-name eTailers like Amazon, eBay and Walmart have made it easier than ever to buy just about anything online. When it comes to shopping for big-ticket items like pre-used or new commercial vehicles, though, the online shopping process is anything but easy.

Online 212

Evolution through digital reinvention in banking

Insights on Business

Today’s banking systems evolved from the first merchants bartering and carrying goods between early villages and towns. From there, banking expanded across the world in the form of lenders supporting trade across the Silk Road in ancient Greece, the Roman Empire, and the Han Dynasty.

NEW REPORT: Can Digital Escrow Drive Big-Ticket eCommerce?

PYMNTS

It’s easy for consumers to buy just about anything online these days. But big-ticket items – such as used vehicles, agricultural equipment and valuable artwork – require more than a point and a click to add an item to a digital shopping cart.

Report 202

Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this)

Chris Skinner

The Bank for International Settlements (BIS), the guys who are responsible for Basel regulations and act as the global central bank to all the central banks, caught global headlines yesterday by saying that bitcoin will break the internet. Wowser. I couldn’t ignore this and neither should you so here’s a … The post Cryptocurrencies Fail The BIS Test (bitcoinistas aren’t going to like this) appeared first on Chris Skinner's blog. Blockchain Future Grid

Mezu trumpets privacy with new mobile P2P app

Mobile Payments Today

As consumers become more conscious about which companies they share sensitive information with, a Cleveland-based company has launched a mobile person-to-person app that adds a level of anonymity its co-founder and CEO believes is missing from the market

Mastercard and Diebold Nixdorf Update the Cardless ATM

Bank Innovation

The cashless society we’ve been promised is still years away, and in the meantime, ATM innovation continues. A new venture between Mastercard and Diebold Nixdorf, a global ATM provider, sits at the intersection of mobile transactions and cash.

ATM 214

AID:Tech And PharmAccess Deliver World’s First Blockchain Baby

PYMNTS

The first baby born on the blockchain is expected to enter the world at a small clinic in rural Tanzania this week. What does that mean – to be born on the blockchain? Has the world finally gone too far with its distributed ledger obsession? Just the opposite, Niall Dennehy, COO of AID:Tech would argue – more like it’s finally found a use case that is more practical and more noble than cryptocurrencies.

The new wave of fintech: Enterprises into ecosystems

Insights on Business

FinTech is undeniably transforming banking and financial industries. Everyday there is a new hot topic or a new application of an existing technology that is reshaping the industry.

ISVs And Future-Proofing Payments Integrations

PYMNTS

If one thing is certain about the future, it’s that nothing can be certain – so it’s best to be prepared for everything. But when it comes to payments technology, that can be easier said than done.

Alibaba versus Tencent: who will win?

Chris Skinner

I bet you were wondering why I hadn’t written an Ant update recently. Well, I thought it was getting too much … but then I just arrived in Hong Kong and the hotel has kindly given me a copy of Fortune magazine with the headline cover page talking about the … The post Alibaba versus Tencent: who will win? appeared first on Chris Skinner's blog. Fintech Future Grid Inclusion Innovation Technology

What can US retailers learn from China about mobile payments?

Mobile Payments Today

The success in China is largely driven by consumers' adoption of mobile wallets like Alipay and WeChat/Ten Pay, which make up the majority of the mobile payment market

Retail 154

Can Technology Save Bank Branches?

Bank Innovation

PREMIUM - When was the last time you went to your bank branch to deposit money? Still thinking? That's because most of the daily banking activity has shifted from branches to the smartphone. But that's not to say people don’t use bank branches at all.

For FinTech And FIs, APIs Everywhere (It Seems)

PYMNTS

Payments are getting ever faster and global in nature. Real-time payments are becoming part of the landscape. PSD2 is reality and open banking is fostering demand for open APIs. To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking. Deutsche Bank is moving ahead with its API efforts, and has put out “a call for 100 enterprises” to aid in those efforts.

How to create a web app using Client Insight for Wealth Management Service?

Insights on Business

The IBM Client Insight for Wealth Management service provides wealth management companies with key insights for their clients to improve client satisfaction and retention. Financial Advisors are required to provide clients with guidance and options to manage their finances.

Overstock CEO Says Blockchain Can End Global Poverty

PYMNTS

Overstock CEO Patrick Byrne believes that blockchain might be the world’s greatest hope in ending global poverty. In an exclusive interview with FOX Business , Byrne said he is looking for suitors who may be interested in his new venture with world-renowned Peruvian economist Hernando de Soto Polar to end poverty with blockchain technology. When we first started taking bitcoin, I said back then four years ago, the main event of bitcoin isn’t bitcoin — it’s this thing called blockchain.

Banks are losing the data war

Chris Skinner

For some time now, I’ve been reflecting on a conversation about Monzo. It relates to my write-up the other day on new bank thinking, and that Monzo are clever with data. Using Google Map APIs and other services, they enrich my transaction statement so I know when, where and what … The post Banks are losing the data war appeared first on Chris Skinner's blog. Digital Bank Future Grid Opinion

Data 178

Are consumers pushing back against the cashless trend?

Mobile Payments Today

Danny Meyer, Union Square Hospitality Group CEO, recently penned a blog post about why his restaurants will continue to go cashless. But is that really what consumers want

Trends 150

3 Ways Financial Services Businesses are Using Data to Drive Innovation [SPONSORED]

Bank Innovation

Businesses produce data every second, while some of it can help an organization make data-backed decisions about business activities, much of it will sit in data warehouses never to be seen again.

Can’t Navigate The Moral And Ethical Implications Of AI? There’s An App For That

PYMNTS

Bank of America and Harvard University have collaborated on a new initiative designed to make the complex technologies behind artificial intelligence (AI) and machine learning (ML) more universally beneficial and accessible to the global workforce.

Colt races towards better sales performance with IBM

Insights on Business

Motivating sales teams with commission payments is central to many organizations’ success, and at Colt Technology Services we’re no different. In today’s unpredictable marketplace, it’s more important than ever to be able to adjust sales compensation programs in line with changes in strategy.

Blockchain Will Test Investors’ Patience, Experts Say

PYMNTS

Blockchain has issued many promises in the financial services space, vowing improved efficiency, heightened transparency and unmatched security. The debate continues over whether distributed ledger technology can fulfill those promises, but analysts today say that, whether these benefits are actualized or not, markets will have to be patient to find out. FIS ‘ SVP product strategy, Esther Pigg, recently told PYMNTS’ Karen Webster about this need for patience.

Why banks fear core systems change

Chris Skinner

I was listening to a group of CIOs talking about legacy systems change the other day. One said that it doesn’t matter how old the systems are; it’s all about whether they are maintainable and fit-for purpose. I kind of agreed with that, although I cannot think of any silo-based, … The post Why banks fear core systems change appeared first on Chris Skinner's blog. Digital Bank Grid Technology

System 166

With use surging, what comes next for mobile banking?

Mobile Payments Today

What areas of innovation could shape the channel, and how can financial institutions keep users engaged and satisfied

Consumers Want Fast and Easy Authentication, But Security is Top Concern

Bank Innovation

Security breaches continue to be an ever-present threat for financial institutions. Defending against attacks and authenticating customers without creating undue friction is something financial institutions have not yet completely solved.

Are Retailers Ready For Amazon’s Prime Time?

PYMNTS

My plan on Friday evening was to write a hard-hitting piece on a services segment with incredible marketplace friction. Then I went to Whole Foods on the North Shore of Boston Saturday morning to do some grocery shopping. There, right inside the front door, was a nice, young Whole Foods team member, who let me know that the store would soon be offering special discounts to Amazon Prime members who shopped there.

Retail 189

Choosing the right chatbot vendor

Insights on Business

When you think of technologies that are changing the way the banking industry conducts business, is your first thought chatbots?

Asian Banks Want Regulators To Allow More FinTech Solutions

PYMNTS

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering. For example, the Asia Securities Industry and Financial Markets Association (ASIFMA) would like to see more use of know your client ( KYC ) checks to help reduce costs, Reuters reported.